CBSE Class 11 Economics Syllabus 2023-24

CBSE has released the Latest Updated Syllabus for the New Academic Session 2023-24 on March 31st, 2023, for class 11. 

CBSE Board has released the latest Class 11 Economics syllabus which is to be strictly followed. Below please find our detailed analysis of Board Paper pattern, Unit-wise summary for the New Session 2023-24.

We have also updated Oswal Gurukul Books as per the Latest Paper Pattern prescribed by Board for each Subject Curriculum.

Students can directly access the CBSE Economics Syllabus for Class 11 of the academic year 2023-24 by clicking on the link below.

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Table Of Contents−

CBSE Class 11 Economics Latest Syllabus 2023-24

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Units   Marks Periods
Part A Statistics for Economics    
  Introduction 15 10
  Collection, Organisation and Presentation of Data 30
  Statistical Tools and Interpretation 25 50
    40  
Part B Introductory Microeconomics    
  Introduction 04 10
  Consumer's Equilibrium and Demand 14 40
  Producer Behaviour and Supply 14 35
  Forms of Market and Price Determination under
perfect competition with simple applications		 08 25
    40  
      200
Part C Project Work 20 20

CBSE Class 11 Economics Syllabus 2023-24: Unit-wise Summary

Part A:

Statistics for Economics

In this course, the learners are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

Unit 1: Introduction

10 Periods

What is Economics?

Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data

30 Periods

Collection of data - sources of data - primary and secondary; how basic data is  collected with concepts of Sampling; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.

Organisation of Data: Meaning and types of variables; Frequency Distribution.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and Ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3: Statistical Tools and Interpretation

50 Periods

For all the numerical problems and solutions, the appropriate economic interpretation may be attempted. This means, the students need to solve the problems and provide interpretation for the results derived.

Measures of Central Tendency- Arithmetic mean, Median and Mode

Correlation – meaning and properties, scatter diagram; measures of correlation - Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation (Non-Repeated Ranks and Repeated Ranks).

Introduction to Index Numbers - meaning, types - Wholesale Price Index, Consumer Price Index and index of industrial production, uses of index numbers; Inflation and Index Numbers, Simple Aggregative Method.

Part B:

Introductory Microeconomics

Unit 4: Introduction

10 Periods

Meaning of microeconomics and macroeconomics; positive and normative economics

What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of Production Possibility Frontier and Opportunity Cost.

Unit 5: Consumer's Equilibrium and Demand

40 Periods

Consumer's equilibrium - meaning of Utility, Marginal Utility, Law of Diminishing Marginal Utility, conditions of consumer's equilibrium using marginal utility analysis.

Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium.

Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurement of price elasticity of demand – percentage-change method and total expenditure method.

Unit 6: Producer Behaviour and Supply

35 Periods

Meaning of Production Function – Short-Run and Long-Run

Total Product, Average Product and Marginal Product.

Returns to a Factor

Cost – Short run costs - Total Cost, Total Fixed Cost, Total Variable Cost; Average Cost; Average Fixed Cost, Average Variable Cost and Marginal Cost - meaning and their relationships.

Revenue – Total Revenue, Average Revenue and Marginal Revenue - meaning and
their relationship.

Producer's Equilibrium - meaning and its conditions in terms of Marginal Revenue- Marginal Cost.

Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply - percentage-change method.

Unit 7: Perfect Competition - Price Determination and simple applications.

25 Periods

Perfect competition - Features; Determination of market equilibrium and effects of
shifts in demand and supply. (Short Run Only)

Simple Applications of Demand and Supply: Price ceiling, Price floor.

Part C: Project in Economics

20 Periods

CBSE Class 11 Economics Question Paper Design 2023-24

SN Typology of Questions Marks Percentage 
1 Remembering and Understanding: Exhibit memory of previously learned material by recalling facts, terms, basic concepts, and answers. Demonstrate understanding of facts and ideas by organizing, comparing, translating, interpreting, giving descriptions, and stating main ideas 44 55%
2 Applying: Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way 18 22.5%
3 Analysing, Evaluating and Creating: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations. Present and defend opinions by making judgments about information, validity of ideas, or quality of work based on a set of criteria. Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions. 18 22.25%
Total 80 100%

The Changes for Class 11 (2023-24) Year-end Board Examinations are as under:

(Class-11)
Particulars Academic Session 2022-23 Academic Session 2023-24
Composition of question paperyear-end examination/ Board Examination (Theory)
  • Competency Based Questions are 30% in the form of Multiple-Choice Questions, Case Based Questions, Source Based Integrated Questions or any other type.
  • Objective Question are 20%
  • Remaining 50% Questions are Short Answer/Long Answer Questions
  • Competency Focused Questions in the form of MCQs/Case Based Questions, Source-based Integrated Questions or any other type = 40%
  • Select response type questions(MCQ) = 20%
  • Constructed response questions (Short Answer Questions/Long Answer type Questions, as per existing pattern) = 40%

2022-23 Reduced Syllabus

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